revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency …-specific tests in a comprehensive system setup for euro-area data we consider various theoretical predictors of inflation. A general …-to-specific testing strategy reveals a recursive structure where only the unemployment rate and long-term interest rates are directly …

dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is … perfectly competitive labor market can help resolve the pricing conflict. I do so by assuming search frictions in the labor … market. In this framework, labor becomes firm-specific and marginal cost curves become upward-sloping. This mechanism reduces …

experiences of these macroeconomic outcomes they have made during life. Focusing on expectations about national inflation …, national unemployment and national business conditions, I measure individual-specific experiences as weighted averages of these …

This paper estimates the Brazilian Nairu (Non-Accelerating Inflation Rate of Unemployment) and investigates several … concludes that there is a statistically significant relationship, with correct sign, between deviations of unemployment from the … Nairu and inflation. It also shows that the usefulness of the Nairu to the conduct of monetary policy is very limited …